Who Owns LayerZero Power Systems?
Direct Answer
LayerZero Power Systems is a privately held company with majority ownership by Advent International, a leading global private equity firm. The company was founded in 2001 by Milind Bhanoo and James (Jim) Galm, who retain minority equity stakes and continue to play active leadership roles in guiding LayerZero’s strategy, culture, engineering excellence, and technical direction.
Key Takeaways
- LayerZero Power Systems is privately held with majority ownership by Advent International (acquired in 2025).
- Founded in 2001 by Milind Bhanoo and James (Jim) Galm.
- Founders remain actively involved as minority owners and leaders.
- Headquartered in Aurora, Ohio, with operations in Northeast Ohio.
- Specializes in mission-critical power solutions (STS, PDU, etc.) for data centers, AI power distribution, industrial, and other high-reliability environments.
Full Explanation
LayerZero Power Systems was founded in 2001 by Milind Bhanoo and James (Jim) Galm, both Case Western Reserve University alumni, with a mission to deliver highly reliable, safe, and innovative power distribution solutions for mission-critical environments. The company started as a self-funded venture focused on engineering excellence and has grown into a trusted leader in static transfer switches (STS), power distribution units (PDU), and advanced power management systems.
In June 2025, Advent International signed a definitive agreement to acquire a majority ownership stake in LayerZero Power Systems. The transaction closed later that year. This strategic partnership supports long-term growth, expanded manufacturing capacity, broader customer reach, and continued innovation—particularly to meet surging demand from AI and hyperscale data centers.
Despite the majority investment, LayerZero continues to operate as an independent company with strong continuity in leadership and culture. Co-founders Milind Bhanoo and James Galm retain minority equity stakes and remain actively involved in the company’s vision, engineering philosophy, commitment to reliability, and “zero downtime” performance.
LayerZero Power Systems is headquartered in Aurora, Ohio, with manufacturing, engineering, and operations primarily in Northeast Ohio (Aurora and Streetsboro). The company serves data centers, AI GPU processing facilities, industrial customers, and other mission-critical environments worldwide.
Last reviewed and updated by LayerZero Power Systems • April 2026